This week, the Portal Network, a company focused on making the blockchain space more user-friendly, has announced a new service to simplify wallet addresses for Bitcoin Cash (BCH). The service, called the Bitcoin Cash Name Service (BCNS), will allow users to turn their wallet address into an easy to read name, instead of the long alphanumeric code that most cryptocurrency wallets use.
Now, Bitcoin Cash users can have addresses such as “yourname.bch,” which will allow them to easily remember and give out as they would with an email address.
According to a report from Jamie Redman of Bitcoin.com, the name service will utilize smart contracts “using a version of Omni Layer that’s also tethered to an IPFS hash and BCH wallet address.”
Although smart contracts are not a feature of the BCH blockchain, the Portal Network has used the Omni Layer protocol to make the name service possible. According to the Portal Network developers:
“As for BCNS’s use case, developers can write different information to the UTXO-based blockchain at JSON-RPC interface, and get related information stored in the Bitcoin Cash script. Omni Layer plays a crucial role for BCNS because the Op-Return script is where all the BCNS information is stored.”
You can register your own name-based BCH address at the Portal Network’s website. Over 2000 addresses have been registered so far.
This is not the first time that third party developers have attempted to simplify cryptocurrency addresses. The issue was first publicly discussed in 2010, and first implemented in 2011 with the Namecoin project. Many efforts to simplify BTC addresses in the early days of crypto, such as Bitalias and Bitdns, never fully maintained popular use. Earlier this year, a name service called ENS was launched on the Ethereum network, allowing users to send ETH to simple addresses.
The Portal Network is planning to offer similar services to other blockchains as well. The team has already announced the completion of name services for Wanchain(WAN), Qtum (QTUM) and ICON (ICX).
In comments earlier this week, EOS Chief Technical Officer (CTO) Daniel Larimer pointed out that making blockchain services more user-friendly is how the industry will finally achieve mass adoption. Larimer stated:
“The other big use case is eliminating the need for constantly changing your password – or complex passwords – because that actually makes things harder for users. When people start making things easier, when blockchain actually makes people’s lives easier and more secure, that’s when it’ll get widespread adoption.”